Tran Capital Management L.P. Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Tran Capital Management L.P. cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,957 shares of the e-commerce giant’s stock after selling 31,724 shares during the period. Amazon.com makes up approximately 7.6% of Tran Capital Management L.P.’s investment portfolio, making the stock its largest holding. Tran Capital Management L.P.’s holdings in Amazon.com were worth $56,499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Braun Bostich & Associates Inc. boosted its stake in Amazon.com by 1.5% during the 1st quarter. Braun Bostich & Associates Inc. now owns 5,676 shares of the e-commerce giant’s stock worth $1,080,000 after acquiring an additional 84 shares during the last quarter. Define Financial LLC acquired a new stake in Amazon.com in the first quarter worth $389,000. Fifth Third Bancorp raised its holdings in Amazon.com by 2.7% in the first quarter. Fifth Third Bancorp now owns 3,850,838 shares of the e-commerce giant’s stock worth $732,660,000 after purchasing an additional 99,649 shares during the period. Simon Quick Advisors LLC boosted its position in shares of Amazon.com by 24.0% during the first quarter. Simon Quick Advisors LLC now owns 191,715 shares of the e-commerce giant’s stock worth $36,476,000 after purchasing an additional 37,162 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Amazon.com by 2.2% in the 1st quarter. Capital Advisors Ltd. LLC now owns 12,540 shares of the e-commerce giant’s stock valued at $2,386,000 after buying an additional 267 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith Brian Alexander sold 1,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the sale, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,037 shares of company stock valued at $20,531,075. Company insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday, June 2nd. Benchmark reaffirmed a “buy” rating and set a $260.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $195.00 price objective (down from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. The Goldman Sachs Group lowered their target price on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, BNP Paribas Exane raised shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $245.81.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $223.30 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.37 trillion, a P/E ratio of 36.37, a P/E/G ratio of 1.64 and a beta of 1.33. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a 50 day moving average of $202.26 and a 200-day moving average of $209.01.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.